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Ferrari is the newest member to European auto lobby ACEA

Italian automaker Ferrari has become the newest automaker to join the European automakers’ association (ACEA), the auto lobby stated on Tuesday.

ACEA is dedicated to the producers of passenger cars, vans, trucks, and buses with production sites located in the European Union and provides benchmark data on vehicle registrations.

Ferrari’s membership took effect on January 1, after approval at the end of last year by the association’s board of directors, which is comprised of the chief executives of its member companies, ACEA stated.

Ferrari has made no comments as of now.

Mike Manley, the CEO of Ferrari’s former parent company Fiat Chrysler, took the position of ACEA’s new president this month.

Ferrari – which was spun-off from Fiat Chrysler (FCA) in 2016 – is now ACEA’s sixteenth member, adding to automakers such as luxury automakers BMW and Jaguar Land Rover, mass-market producers such as PSA-Peugeot or Ford Motor and also truck and commercial vehicle makers such as DAF Trucks.

Ferrari is owned by Exor, the holding company of Italy’s Agnelli family. It also controls FCA and industrial vehicle maker CNH Industrial, which is another ACEA member.

Last month FCA and PSA agreed a binding $50 billion tie-up to form the world’s fourth-largest automaker.

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